WILLIAM DONALD SCHAEFER, Governor

Ch. 6

Error: Punctuation omitted in § 9-408(c)(2) of the
Financial Institutions Article.

Occurred: Ch. 856, Acts of 1980.

9-411.

(c) The Division Director shall adopt regulations
establishing a reasonable period of time of not more than:

(1)  3 business days, within which a savings and loan
association shall be required to permit a holder of a savings
account to draw, as of right, on a local item which has been
received for deposit in the account;

(2)  6 business days, within which a savings and loan
association shall be required to permit an account holder to
draw, as of right, on an out-of-state item which has been
received for deposit in the account holder's account in the
savings and loan association;

(3)  1 business [day] DAY, within which a savings and
loan association shall be required to permit an account holder to
draw, as of right, on a state or federal government item which
has been received for deposit in the account holder's account in
the savings and loan association; and

(4)  2 business [days] DAYS, within which a savings
and loan association shall be required to permit an account
holder to draw, as of right, on an item of not more than $100,
which has been received for deposit in the account holder's
account in the savings and loan association.

DRAFTER'S NOTE:

Error: Punctuation omitted in § 9-411(c) of the
Financial Institutions Article.

Occurred: Chs. 405 and 481, Acts of 1987.

9-412.

(b) This section does not prohibit a savings and loan
association and a holder of an account in the association from
agreeing in writing to a greater period of time than that
prescribed by regulation under § 9-411 of this [article] SUBTITLE
for drawing against items under special circumstances if:

(1)  The agreement is not contained in a preprinted
form; and

(2)  The agreement is not a usual, regular business
practice of the savings and loan association.

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